Trump's planned tariffs could hit about 5% of Canadian goods exports, but experts say they may also speed Canada's push to diversify trade with the EU, China, ASEAN and other markets.
Canada's politically sacrosanct dairy supply management system faces renewed pressure as US President Donald Trump threatens 50% tariffs on $20bn of Canadian goods, citing the system as "unreasonable." Canadian officials, including Quebec Premier Christine Fréchette and Trade Minister Dominic LeBlanc, assert the system is non-negotiable, while critics argue it inflates prices and distorts trade.
The European Commission has deemed new US tariff threats linked to forced labour 'unjustified,' stating EU legislation is robust enough to ban such products. The EU expects the US to uphold a trade deal struck last summer, which includes tariff commitments due by the end of June.
The European Commission has deemed new US tariff threats linked to forced labour 'unjustified,' stating EU legislation is robust enough to ban such products. This comes as the EU prepares to implement a trade deal with the US, which includes a 15% US tariff on EU goods.
AI-driven optimism pushed the S&P 500 to a record high and Japan's Nikkei to a new milestone. However, geopolitical tensions between the US and Iran, along with trade threats, cast an ominous shadow over markets.
EU leaders celebrated a hard-won trade deal with the US, ending months of tariff threats. The agreement, finalized after late-night talks, aims to ensure stable transatlantic trade and supports millions of jobs, though some express caution.
The British Chambers of Commerce has urged the UK government to create an EU-style 'trade bazooka' to protect British economic interests from Trump's latest tariff threats. The lobby group, representing thousands of firms, said the UK's 'inadequate economic security' was putting growth and jobs at risk, calling for urgent action including new legislation with powers to impose duties, limit market access, and enhance investment scrutiny. The US is Britain's largest trading partner, accounting for about a fifth of global trade.
